What do you see as the benefit of studying international economics? What are the differences between...

What do you see as the benefit of studying international economics?

What are the differences between an international business firm and a multinational corporation?

What are the differences between a multi-domestic corporation and a global corporation?

Expert Solution

With the rapid growth in the international trade the importance of international economics as a field of study is growing. International economics is the study of how goods produced in one country are purchased by another country and how currencies are exchanged between these countries. International economics is the study of two fields: international trade and international finance. The study of international economics bridges the gap between macroeconomics and microeconomics. Therefore, the study of international economics is beneficial.

Differences between an international business firm and a multinational corporations are as follows:

International Business Firm	Multinational Corporation
These companies sell their products in foreign countries through exports. They might also be an importer of some goods or material. These companies have no set up or branches of their own in foreign countries.	These companies have their operations and trading in two or more countries.
They don't have any FDI in foreign countries.	They may have FDIs in a few of the foreign countries in which they opearte.
Since they don't have any establishments of their own in foreign countries the decision making takes place in the domestic country.	These companies have a centralized decision making process and a centralized structure.
Example: Walmart	Example: General Motors

Differences between a multi domestic corporation and a global corporation are as follows:

multi domestic corporation	global corporation
These companies have set up and branches in many countries of the world.	These companies have operations and trading in many countries of the world and here the number of countries is very high which is 15-20+.
They have FDIs in some of the foreign countries in which they operate.	They have FDIs in most or all of the foreign countries in which they operate.
They prefer decentralized organization structure. International branches take their own decisions as per the respective domestic place.	For taking major decisions these companies have a centralized approach.
Example: KFC	Example: Coca Cola

Rahul Sunny answered 2 years ago

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